Sign up FAST! Login

Facebook Investor Peter Thiel Calls Technology A “Scapegoat” For Inequality

Stashed in: Libertarian, Peter Thiel, Awesome, inequality

To save this post, select a stash from drop-down menu or type in a new one:

While globalization has flooded the low-skilled job market with ultra-cheap outsourced labor, technology has relieved the beleaguered middle-class with services in health, education and leisure that were once the exclusive domain of the wealthy, Thiel asserts.

Indeed, he partly blamed the failure to recognize the contributions of technology on an American mindset that is “anti-technology.” For instance, he notes, there was no financial industry-like bailout of Silicon Valley during the first dot-com bubble. He also notes that the nation’s general animosity toward tech can also be seen in the movie industry, which inundates the masses with tech super villains from “The Matrix,” “Avatar,” and” The Terminator” in a period of high tech hostility (compared to more tech-friendly movies, such as “Star Trek” in the ’60s and “Back To the Future” in the 80s, which is when he thinks the U.S. was less anti-tech).*

As a self-avowed libertarian, Thiel wasn’t thrilled about the government bail-out of the financial industry. But he shocked the crowed when he openly supported more taxes in exchange for less regulation.

“I wouldn’t mind paying more in taxes if I could do anything I wanted to do with the rest of the money, which I’m largely restricted in what I can do, from the FDA on down to the San Francisco zoning department.”

* Just me or this one craaazy slant?  

Yes, it is.

Peter Thiel is also the guy who tells people that college is a waste of money.

He's also investing a lot of money into figuring out how to live forever. 

He started PayPal to disrupt world currencies.

And he's one of the main funders of Rand Paul and Ted Cruz. 

And, he sold Facebook shares at $19 in summer 2012. They're now at $70.

The point about SV never needing a bailout is a good one, however. 

Yes it is. I'm as unthrilled about the government bailing out the financial industry as Thiel is.

You May Also Like: